The Mi Nuevo Desarollo community bank has 6 members that have different businesses in the community. The group's coordinator is Maria Ana T. Matute, who is 55 married with 6 children and lives with her family in the city of Juticalpa, Olancho.

Maria Ana makes a living selling cosmetics and related products door to door. She only works 4 hours daily since she has colon problems and a heart murmur and those keeps her from working longer. Her advantage is that the products she sells move quickly since women always like to look nice. A disadvantage is that she sells on credit and sometimes her customers don't pay on time.

Her dream is to have a few employees to expand her sales territory and increase her income. She is requesting a loan to buy perfumes, creams, shampoos, conditioners, lipsticks, eye shadow, mascara, deodorants, etc, since this time of year her suppliers have great deals and she wants to take advantage of them.

She has had several loans with FAMA and is very thankful for the support since her business has allowed her to meet her basic needs.

Additional Information

About FAMA:

Honduras is one of the poorest countries in the Western Hemisphere with approximately 59% of people living below the poverty line. Familia y Medio Ambiente OPDF (FAMA OPDF) is a Honduran non-profit with no religious or political affiliation. FAMA’s mission is to provide quality and opportune financial services so that men and women have equal opportunities to develop their micro or small businesses, whether they focus on agriculture, manufacturing or services. FAMA operates 13 branches throughout Honduras and serves over 12,500 clients.

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.